GGR325H5 Lecture Notes - Lecture 9: Carl Menger, Financial Services, Market Saturation
Document Summary
Ggr325 lecture 9 mar 10: finances & logistics. Introduction: centrality of abss, structure, dynamics of the market, technological innovation, role of the state, corporate strategies, geographies. Origins of money (1862) | carl menger (1840-1921) Barter --> people rarely get what they want in 1-2 transactions. Commodities or products in their own right: structure of financial services industries. Ie. , pooling of financial resources among those with surplus funds. To be lent out to those who choose to be in deficit (that is, to borrow) Figure 12. 2 major types of advances business services: dynamics of market for financial services. New competition: market saturation (few clinets available, disintermediation (corporate borrowers increasingly sought capital from non-bank institutions, deregulation of financial markets. Changes in way prices of financial services are set. Figure 12. 8 major phases in the development of international banking. Central to the operations of all aspects of the economy. Generate products in their own right on which speculative prodfts can be made.
